IMF Director Tells Banks: Do Not Worry about Bitcoin & Blockchain

[tom555]

IMF Director Tells Banks: Do Not Worry about Bitcoin & Blockchain
what do you think about that??

[Gleb Gamow]

IMF Director Tells Banks: Do Not Worry about Bitcoin & Blockchain
what do you think about that??

[Nightlife]

The IMF will dismiss Bitcoin until it's bigger than the banks. The banks themselves dismissed it for the first five years, and now they are all discussing using blockchain technology without Bitcoin. Their plans won't work because using blockchain technology without Bitcoin requires trusting the banks, whereas using Bitcoin doesn't require any trust in bank promises.

[Betwrong]

IMF Director Tells Banks: Do Not Worry about Bitcoin & Blockchain
what do you think about that??

Well, I think it's good. When peolple worry they start doing stupid things generally, so it's better when they don't worry. Especially banks. They have money so they can "finance" anti-bitcoin activity in government and law institutions.

[gentlemand]

Do not worry about what aspect of it? Where's the source for the full context?

[DooMAD]

Do not worry about what aspect of it? Where's the source for the full context?

There's a thread here in the press forum, so I'm guessing it's about the CoinDesk / Financial Times (paywall) article here.

I think the banking industry has quite a few good days ahead of it as long as it takes ownership of those issues of capital and culture in order to actually restore the trust

Christine Lagarde is mental if she thinks banks are going to regain trust anytime soon.  It's precisely for that reason their days are numbered.

[Denker]

Do not worry about what aspect of it? Where's the source for the full context?

I guess OP is referring to Christine Lagarde who said that banks shouldn't be worried about Bitcoin and Blockchain.

Found only this article from today:
https://www.cryptocoinsnews.com/imf-director-tells-banks-do-not-worry-about-bitcoin-blockchain/

Lagarde's quote:

Many of you have heard about not only bitcoins but blockchains and that unbelievable technology that underlies the Bitcoins of this world at the moment, and how incredibly convenient it will be to actually generate trust and identify players and whatever pseudo they decide to use.

And many of you in the industry are actually worried that those technologies are going to massively disrupt the current industry.

If those new technologies and as long as those new technologies are going to abuse, take advantage of, the yield for anonymity, I think the banking industry has quite a few good days ahead of it as long as it takes ownership of those issues of capital and culture in order to actually restore the trust without which you see no trade no transaction no business can take place.

Damn yes these guys should be worried to get disrupted the next coming years.
As Andreas Antonopoulos said: "Bitcoin is punk rock.Deal with it!"

[Slark]

Banksers are delusional. They have no idea how much they are being hated. They are no respected and trustworthy people anymore.
I would rather trust anonymous bitcoin exchange than bank. I've seen people screwed over by these leeches many time.
Lets wait couple times and the ask banks again - are you worried now? Because you should be.

[Mickeyb]

Let them just hope. The same was saying Edison about his DC current when Tesla came and introduced the AC current. We all know how this had ended up!

[SerenaL]

Banksers are delusional. They have no idea how much they are being hated. They are no respected and trustworthy people anymore.
I would rather trust anonymous bitcoin exchange than bank. I've seen people screwed over by these leeches many time.
Lets wait couple times and the ask banks again - are you worried now? Because you should be.

Even the majority of bitcoin users still have to rely on banks and fiat. I imagine some of these banksters have investments in bitcoin as well.

[Timeline]

Blockchain technology is so disruptive that they can't ignore it. They will eventually adapt it.